Private Investors Set Up Shipyards in India

Private Investors Set Up Shipyards in India

On the West Coast, Pipavav Shipyard has come up with sufficient capacity to build large ships including Very Large Crude Carriers (VLCC). On the East Coast, M/s Larsen & Toubro Limited has built a large shipyard near Chennai as a Joint venture with Tamil Nadu Industrial Development Corporation Ltd.

The Government of India’s stake in the form of equity or grant or loan has not been sought by any of these shipyards.

As per the information furnished by the Shipping Corporation of India (SCI), the commercial ships require repair facilities for running repairs and dry docking repairs. While the facilities for running repairs are sufficient in most ports, for dry docking repairs of bigger vessels, they have to depend on foreign shipyards like Colombo Dockyard, Chinese yards and yards in the Middle and Far East region. However, some Indian shipyards like the Cochin shipyard Ltd. and Western India Shipyard have facilities for dry docking repairs.

The information was given in a written reply by the Minister of Shipping, Sh. G.K. Vasan in Lok-Sabha to-day private investors have gone ahead with plans to set up shipyards in the country.

Press Release, December 17, 2012